May 16, 2012 - Macro Man
A few readers have asked me for a list of my favourite bloggers. I have posted on a few (eg. The Big Picture, Zero Hedge, etc.). Another of my favourites is London-based "Macro Man" (macro-man.blogspot.ca). It is run by a group of anonymous traders who post daily thoughts on the markets. Often it is quite technical, but it is interspersed with comic relief - like this last post on "How Banks See Each Other."
And, Tolkien's "Lord of the Rings" re-characterized to the Europe crisis ("Friday Questions" - Click here to read full post).
The Ring - the Euro
Sauron - Weidmann
Saruman - Scheuble
Mordor - Germany
Mount Doom - Bundesbank
The Nazgul - Bond Vigilantes
Gollum - Greece
Gandalf - Draghi
Frodo - European Economy
Bilbo Baggins - Trichet
Gimli - Merkle
Pippin - Hollande
Add this to your Tweet Deck - always a good read!
Jim McGovern
May 11, 2012 - Thar She Blows!
Is it any wonder retail investors have abandoned the equity markets?
JP Morgan's Jamie Dimon announced after market last night that the firm he leads has a problem - for now a $2BN trading error but it could get worse - or better - who knows?
Apparently, someone named the "London Whale" (a.k.a. Bruno Iksil - what is it with these Frenchmen trading anyways?) made a trade that has gone horribly wrong. Reuters reported that someone close to the Whale described him as follows: "He's a really nice bloke. A quiet bloke. He's not an arrogant trader, he's quite the opposite. He's very charming." Indeed.
Mr. Dimon, our modern day "Ahab", called it "stupidity" and an "outrageous mistake". He vowed to take the necessary steps to get the Whale beached. After that, our recommendation to him comes courtesy of the Discovery Channel. You just can't make this stuff up!
Have a great weekend,
Jim McGovern
May 10, 2012 - Some Updated Macro Thinking
Garrison Hill's Michael Yhip has put together some thoughts on recent developments in Europe, equities and crude oil.
Click here to read his letter.
Jim McGovern